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  3. 5aved lynch company manufactures and sells a sing

5aved Lynch Company manufactures and sells a single product. The following costs were incurred...

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Accounting

5aved
Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations:
During the year, the company produced 33,000 units and sold 24,000 units. The selling price of the company's product is $44 per unit.
Required:
Assume that the company uses absorption costing:
a. Compute the unit product cost
b. Prepare an income statement for the year.
Assume that the company uses variable costing:
a. Compute the unit product cost.
b. Prepare an income statement for the year.
Complete this question by entering your answers in the tabs below.
Req 1A
Req 1B
Req 2A
Req 2B
Prepare an Income statement for the year. Assume that the company uses variable costing
I NEED HELP WITH THE LABELS
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